Galan Lithium Restricted (ASX: GLN) (Galan or the Firm) is happy to announce that its entitlement provide closed totally subscribed. The professional-rata non-renounceable entitlement provide of 1 (1) new totally paid odd share for each 4 (4) totally paid odd shares held by eligible shareholders on the file date of 13 September 2024, at a problem worth of $0.105 per share (Entitlement Supply) raised $13.3 million (earlier than charges). The Entitlement Supply was prolonged by one week and closed on 10 October 2024 (Closing Date).
The Entitlement Supply was effectively supported by Eligible Shareholders who utilized for 60,198,783 shares plus the entire shortfall provide of 66,468,031 shares.
The Firm advises that the outcomes of the Entitlement Supply have been as follows:
|
Shares |
Proceeds |
|
|
Whole variety of shares supplied beneath the Entitlement Supply |
126,666,814 |
$13,300,015 |
|
Whole variety of shares utilized for by Eligible Shareholders beneath the Entitlement Supply |
60,198,783 |
$6,320,872 |
|
Whole variety of shortfall shares utilized for by Eligible Shareholders beneath the Entitlement Supply |
66,468,031 |
$6,979,143 |
|
Whole Shares to be issued beneath the Entitlement Supply |
126,666,814 |
$13,300,015 |
The shares beneath the Entitlement Supply can be issued on 17 October 2024.
Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
“On behalf of the Board, I’d prefer to sincerely thank our shareholders for his or her continued help to realize this excellent outcome. To lift $13.3 m in a difficult market is robust validation of Galan’s HMW challenge in Argentina.
Galan continues to maneuver ahead with the event of HMW and stays upbeat about the way forward for the lithium market.”
The Galan Board has authorised this launch.
Click on right here for the complete ASX Launch
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